We Must Take Action!
Commentary
Do you realize Canada’s Federal 'National Net Debt' is more than a staggering 1.2 Trillion Dollars as of the end of March 2024.
As a comparison in 2014/15 when the Liberals came to power it was 285 Billion Dollars. They have quadrupled Canada’s Net Debt (debt after assets are taken off) in just 9 years.
Another eye catching way to look at this is, mid-way through 2019 our Net Debt was still only 325 Billion Dollars; so the debt has tripled in just 5 years.
Imagine we then consider that it is not even the real number, due to the fact that Federal Pensions, Bank Guarantees, and Accounts Payable are not included, and the debt accrues (according to the Canadian Taxpayers Assoc.) approximately 3 Million dollars of interest per hour!
To all that then combine the preceding with the lowest overall GDP Canada has had since 1996, (in fact it was 0% in June 2024). Also, Canada has one of the worst GDP per hour worked figures of all OECD Countries.
David Williams of the Business Council Of British Columbia reports that the OECD (Organization Economic Co-operation Development) says “Canada will be the worst performing advanced economy over the next decade…and the three decades after that”.
It is very sad and disgusting to say that “our country is not in good shape”. While it’s true, all of this cannot all be blamed on our current Government in Ottawa, I think it is fair to say that the negativity within Canada over the past ten years has been significantly increased by the Cost of Living, Housing, Immigration, Health Care, Patronage Senate & Bureaucratic Appointments, a failing Legal/Justice System, Foreign Interference and Runaway Spending among other items.
The debt mentioned above does NOT even include the Provincial, Municipal debts (Government Debt) or Public Debt (Public Corporation Debt) or the years-long spending spree of the Trudeau government and the Liberal-NDP party.
Our next Federal Government will need to immediately prioritize 3 of the largest ‘money holes’ in the country to have any chance of correcting some of our problems ASAP;
1) Social Benefits 33%,
2) Grants 29%,
3) Employee Compensation & Goods or Services 27%.
Getting a handle on at least these three main areas are REQUIRED if the Canadian Government wants any chance of getting spending under control and reducing it.
Do you think the current Liberal-NDP government will ever do that?
Absolutely not, they will just keep on spending, making up stories for their Socialistic Tyranny, obfuscating the truth and crushing Canadian Freedoms.
The areas mentioned will have very difficult decisions associated with them. If we delve somewhat deeper into these areas, one thing continually stands out: Administrative overhead. The bureaucratic costs of most if not all government programs and corporations can use 30 percent or more of those items. Highly significant.
The massively increased Federal Employment dole: from 2016 to 2023 went from $ 40.2 billion to $ 67.4 billion. It's out of control.
The federal civil service is bloated, under utilized and overpaid with little accountability. It is made up of dubious & redundant positions. It needs to be reworked by department, from the ground up and some very hard questions asked and decisions made.
Any responsible business manager would have asked those questions many times in the last decade.
There is widespread concern about how our government in Canada operates. The winner in the next election will need to pursue, a high number of cost control measures in all areas, to get our finances under control. At the same time they will have many other urgencies to deal with.
This restructuring will create a more efficient and harmonious government and country, that also reflects the will of the people.
David S. Watson